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Business, 18.10.2019 19:30 Papichulo3806

Consider a competitive market for which the quantities demanded and supplied (per year) at various prices are given as follows: price (dollars) demand (millions) supply (millions) 60 22 14 80 20 16 100 18 18 120 16 20 a) calculate the price elasticity of demand when the price is $100. b) calculate the price elasticity of supply when the price is $100. c) the price elasticity of supply is nothing. d) the price elasticity of demand is negative 0.556

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